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Friday, June 7, 2024
HomeCryptoBase has surpassed OP Mainnet to become the largest Layer 2 network

Base has surpassed OP Mainnet to become the largest Layer 2 network

Base, the Ethereum Layer 2 network developed by Coinbase, has surpassed the OP Mainnet to become the largest Layer 2 network in the ‘Superchain’ based on the OP Stack.

According to DeFiLlama data, the total value locked (TVL) of BASE has been increased by 20% ​​from the beginning of May to 1.7 billion USD.

Base’s mainnet, which went public in early August 2023, is positioned as the third most valuable Layer 2 blockchain by TVL, behind Arbitrum at $3.81 billion and Blast at $2.26 billion.

This milestone highlights Base’s rapid growth and increasing adoption among decentralized applications (dapps).

The network’s prominence has been greatly enhanced by the decentralized exchange Aerodrome, which contributed $714 million in deposits. Uniswap ranked second with 312 million USD.

These developments place Base at the forefront of the Superchain ecosystem, an interconnected Layer 2 rollup network built using the OP Stack software suite.

This ecosystem aims to increase the scalability and efficiency of Ethereum by processing off-chain transactions, thus reducing the load on the main Ethereum blockchain.

Optimistic rollups, including Base, Arbitrum, Blast and OP Mainnet, work by default by assuming that all transactions are valid and only validating them when there is evidence of fraud.

Base’s impressive growth and strategic integration within Superchain highlights its potential to drive greater innovation and scalability within the Ethereum ecosystem.

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Mark Tyson
Mark Tyson
Freelance News Writer. Always interested in the way in which technology can change people's lives, and that is why I also advise individuals and companies when it comes to adopting all the advances in Apple devices and services.


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